A bank loan that only incurs finance charges and payment obligations when used for a business
is a
A) promissory note. B) line of credit.
C) note payable. D) all of the above.
B
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Yanky Doodle Dandy Cartoon Creators, Inc. earned $5,000 in operating profits (revenue less operating costs) last year. It paid $500 in interest and spent $600 on new equipment for a very modest expansion. Its tax rate was 20% and it maintains a dividend payout ratio of 75%. This year it expects to achieve exactly the same results except the tax rate will be lower. Which of the following will increase this year from last?
a) coverage ratio b) (after-tax) profit margin c) return on equity d) none
Cooking classes, massages, and pedicures are all services that are produced and consumed at the same time. All of these services exhibit which service characteristic?
a. variability b. intangibility c. inseparability d. perishability